Ed Richardson
THE COEGA Development Corporation (CDC) has
purchased the first land for a planned 17 000 hectare industrial development zone outside Port Elizabeth.
A purpose-built harbour will service the zone, which will be situated on land presently owned by the government and the private sector. Negotiations have begun with the private land owners, with finance
coming from the government.
CDC purchased the 607 hectare cattle farm Bontrug for R640 000 or R1 054 a hectare.
Coega finance manager Paul Leese says the CDC has embarked on negotiations with Coega property owners on the basis of a fair market value determined by independent valuers.
This is our preferred option in acquiring the land for the Industrial Development Zone, says Leese.
The CDC has warned property owners that it may expropriate land where negotiations are deadlocked.
It is hoped that the first construction crews will move on site before the end of the year.
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